Proxeus is a platform based on blockchain and developed by a Swiss-based team. The team believes that the technology could fix a number of issues to help different sections including the bureaucracy. Though the technology continues to remain in the nascent stage, there is a lot of interest for it to take it beyond the fintech sector. However, there appears to some basic challenges like scalability and energy efficiency that should be overcome to become the most transformative technology for years.
Co-founder, Antoine Verdon, termed Proxeus as a pragmatic and very Swiss approach to blockchain technology. His aim is to reduce the gap between the old world of linear workflow processes and the brave and still be an alternative reality. This is to ensure that everything could be decentralized. Therefore, the team is working on to enable the technology to maximize single processes and workflows towards its objective of greater transformations, TechCrunch reported. This is much like an open source of software being used by bloggers like the WordPress.
Verdon pointed out that “Blockchain is going to change the whole way we organize ourselves, the whole way we build software, the whole way that even democracy works — and the whole way societies are organized. The impact will be quite deep and eventually really powerful, but in the first step it’s just another digital technology bringing efficiency to businesses.” He has clearly laid out his faith on the technology before putting it with a sense of domestic pragmatism.
It was clear that the Proxeus team’s objective is to grow and be known as blockchain WordPress. Therefore, it would make every effort to offer as an open source and that the platform would become freely available one for anyone to use. Aside from that, developers creating Proxeus apps could also monetize them through charges based on usage. Incidentally, Proxeus raised $25 million through initial coin offering (ICO) in February for their XES token to take care of the execution process of its vision.
Verdon indicated that Proxeus core is a workflow builder besides being document generator. The team has established a regulation enabling anyone to make use of building blocks to develop workflows and towards the culmination of blockchain apps. However, the team was clear that it did not want to offer products and enter the market directly. He believes that Proxeus could be a model as a toolbox apart from a tool provider.
The co-founder of Proxeus disclosed that the team is also working APIs on both sides, which is connecting to different blockchains. He pointed out that the team is now connecting to Ethereum and Hyperledge from the blockchain side and connect Proxeus with a number of ERPs on the input side. The team also has an idea to connect SAP systems.
The team, which is the process of developing the platform for two and half years, is running first trials and beta-testing. The co-founder expressed his confidence that the first live apps would run on its platform before the current year ends after becoming a public product.